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Lifestyle International, part of Dubai-based retail and hospitality conglomerate Landmark Group, plans to add nearly 20 Lifestyle departmental stores across India.
The company currently has 40 Lifestyle stores, 85 value fashion outlets under the brand Max and 16 home products stores under Home Centre brand.
According to Kabir Lumba, Managing Director, Lifestyle International Pvt Ltd (India), the company will invest Rs 150 crore a year for the next three years for expansion in the country.
“Apart from adding 6-7 Lifestyle stores every year, we will also open 25 Max stores a year in India over the next three years,” Lumba said here after launching the first Lifestyle store in Kolkata. The store is spread across 60,000 sq ft at the Quest Mall.
When asked how much investment goes behind a store, he said the company typically spends about Rs 10 crore to open a Lifestyle store. The company is expecting 25-30 per cent growth in turnover this fiscal. Currently, about 60 per cent of the company’s revenue comes from fashion segment.
According to Lumba, sales of the company were not impacted by the slowdown in the economy. “We have been trying hard to make good product offerings,” he said.
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